1. The rapid deterioration of our Alliance Super Spender outlook for the first 90 days of 2008.

1. Our analysis of the latest labor statistics.

1. The continuation of the credit and housing bubble burst into 2009.

1. The likely spiraling negative impact of home prices dropping 10% or more and equities valuations from the recession on super-spender spending.

    

   The "too little/too late to the party."

1. The historic low default rates of speculative grade bonds.

1. The profit recession in financial services.

1. 71% of ALL stocks are in a bear market already.

1. The key Institute for Supply Management index has contracted to 47.7%.

1. The reversion of all leading indicators of the economy into recession levels.

via msn